Avast has confirmed the complete purchase of competitor AVG. The deal worth $1.4 billion will see Avast’s customer base increase from 230 million to more than 400 million in total.
Avast says the new combined forces reaches one-third of the world’s PC users outside of China. Both the Avast and AVG brands are likely to continue to operate, depending on relative market strengths.
The takeover was announced first in July 2016, with scale and geographical breadth touted as the driving forces, along with a plan to expand product offerings including in the Internet of Things space.
This might mean jobs would be cut so as to remove duplicate roles, but Avast has not said how many or where they will come at this stage.
Even though AVG is valued at $25 per share, for a total price-tag of $1.3BN, Avast CEO Vince Steckler says there was also around $100M of AVG debt to pay off increasing the total paid to $1.4BN.
The acquisition has been completed within the originally slated timeframe.
According to TechCrunch, Steckler said the two companies had been watching each other for decades, until Avast convinced AVG they were better off as a whole.
“This was, I think, the fourth attempt we have made in the last two or two and a half years to buy AVG,” he said. “We approached them, we got kind of tired of being constantly turned down — so we approached them kind of one last time and told them hey we’ll pay this amount, no higher, no negotiations, tell us yes or no. And they said yes.
“That came together very, very quick — within a matter of days, really.”
Steckler mentions machine learning technology now being used to power many security solutions as a major reason behind this merger, and the increasing need for data.
Source: Techtimes
As an Amazon Associate, TechCity may earn a small commission if you shop these products.
Simple Modern 40 oz Tumbler with Handle and Straw Lid | Insulated Cup Reusable Stainless Steel Water Bottle Travel Mug Cupholder Friendly | Gifts for Women Men Him Her | Trek Collection | Almond Birch
$29.99 (as of April 24, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
INIU Portable Charger, Slimmest 10000mAh 5V/3A Power Bank, USB C in&Out High-Speed Charging Battery Pack, External Phone Powerbank Compatible with iPhone 15 14 13 12 X Samsung S22 S21 Google iPad etc
$17.99 (as of April 24, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Pampers Swaddlers Diapers - Size 4, One Month Supply (150 Count), Ultra Soft Disposable Baby Diapers
$55.94 (as of April 24, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Monster Energy Zero Ultra, Sugar Free Energy Drink, 16 Fl oz (Pack of 15)
$23.85 (as of April 24, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Apple AirPods Pro (2nd Generation) Wireless Ear Buds with USB-C Charging, Up to 2X More Active Noise Cancelling Bluetooth Headphones, Transparency Mode, Adaptive Audio, Personalized Spatial Audio
$229.00 (as of April 24, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
65W Surface Pro Laptop Charger for Microsoft Surface Pro 10, 9, 8, 7+, 7, 6, 5, 4, 3, X, Windows Surface Laptop 6, 5, 4, 3, 2, 1, Surface Go Tablet, Surface Book 3, 2, 1, Support 44W, 36W, LED, 10FT
$22.90 (as of April 23, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Charger for HP Laptop Computer 65W 45W Smart Blue Tip Power Adapter
$9.90 (as of April 23, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Amazon Fire HD 8 Kids Pro | age 6-12 | Unleash creativity with included age-appropriate Amazon Kids+ content , robust parental controls, 13-hr battery | 32 GB, Hello Teal
$149.99 (as of April 23, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
Amazon Fire 7 tablet, 7” display, read and watch, under $60 with 10-hour battery life, (2022 release), 16 GB, Black
$59.99 (as of April 23, 2024 07:25 GMT +01:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)
